The global financial crisis has inflicted at least a year's delay on the Indian IT outsourcing industry's drive to reach its short- term revenue forecasts, with key markets in the US and Europe suffering from the financial downturn, writes James Lamont.
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IT outsourcing has helped propel the economy to growth rates of 9 per cent and was responsible for creating 45 per cent of new jobs over the past 10 years. But a study by McKinsey, the management consultants, and Nasscom, India's information technology industry lobby, said the IT outsourcing business would miss its target of $60bn (€46bn, £41bn) worth of exports by next year. The study also said the industry needed to become more innovative, breaking into sectors such as energy efficiency.
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BY James Lamont in New Delhi
Source：The Financial Times
© Copyright The Financial Times Ltd 2009.
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